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NASDAQ: RIDE Investor Notice: Lawsuit against Lordstown Motors Corp. announced by Shareholders Foundation

Shareholders Foundation, Inc.
·2-min read

SAN DIEGO, May 11, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Lordstown Motors Corp. (NASDAQ: RIDE) shares.

Investors, who purchased shares of Lordstown Motors Corp. (NASDAQ: RIDE) in August 2020 or earlier and continue to hold any of their NASDAQ: RIDE shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 18, 2021, a lawsuit was filed against Lordstown Motors Corp. over alleged violations of securities laws. The plaintiff alleged that the defendants failed to disclose to investors that the Company’s purported pre-orders were non-binding, that many of the would-be customers who made these purported pre-orders lacked the means to make such purchases and/or would not have credible demand for Lordstown’s Endurance, that Lordstown is not and has not been "on track" to commence production of the Endurance in September 2021, that the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes, and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased Lordstown Motors Corp. (NASDAQ: RIDE) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.